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Aker BP ASA (AKERBP.OL)

AKERBP.OL on Oslo Stock Exchange

293.60NOK
3:25pm GMT
Change (% chg)

kr0.80 (+0.27%)
Prev Close
kr292.80
Open
kr293.40
Day's High
kr294.40
Day's Low
kr291.00
Volume
500,594
Avg. Vol
971,077
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kr355.00
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kr189.80

Latest Key Developments (Source: Significant Developments)

Aker BP expects deal with Equinor on NOAKA concept by summer
Thursday, 17 Jan 2019 

Jan 17 (Reuters) - Aker BP ASA ::AKER BP CEO SAYS EXPECTS TO REACH AGREEMENT WITH EQUINOR OVER NOAKA DEVELOPMENT CONCEPT BY SUMMER.AKER BP CEO SEES TOTAL NOAKA PROJECT COSTS AT AROUND NOK 45 BILLION.AKER BP CEO SAYS NOAKA DEVELOPMENT COULD START PRODUCTION AT EARLIEST IN 2022 OR 2023 IF DECISION ON CONCEPT SELECTION IS MADE IN 2019.  Full Article

Aker BP CFO to join Aker ASA
Thursday, 17 Jan 2019 

Jan 17 (Reuters) - Aker Bp Asa ::DAVID TORVIK TØNNE AND LENE LANDØY JOIN EXECUTIVE MANAGEMENT TEAM OF AKER BP.ALEXANDER KRANE, WHO IS CURRENTLY CFO OF AKER BP, WILL MOVE TO A POSITION AS INVESTMENT DIRECTOR AT AKER ASA.AKER BP IS REORGANIZING ITS FINANCE FUNCTIONS. DAVID TORVIK TØNNE BECOMES NEW CFO, WHILE LENE LANDØY BECOMES DIRECTOR WITH RESPONSIBILITY FOR STRATEGY AND BUSINESS DEVELOPMENT.  Full Article

Aker BP says to cut production cost, significantly raise dividend
Thursday, 17 Jan 2019 

Jan 17 (Reuters) - Aker BP ASA ::PROFITABLE GROWTH AND INCREASING DIVIDENDS.AKER BP IN A GOOD POSITION TO RAISE ITS GROWTH AMBITION TO ORGANICALLY TRIPLE ITS PRODUCTION BY 2025, TO CUT PRODUCTION COSTS FROM USD 12 TO USD 7 PER BARREL AND TO SIGNIFICANTLY INCREASE DIVIDEND PAYMENTS TO SHAREHOLDERS.AKER BP 2019 GUIDANCE: AKER BP PLANS TO PARTICIPATE IN 15 EXPLORATION WELLS, TARGETING 500 MMBOE OF NET PROSPECTIVE RESOURCES.POTENTIAL TO TRIPLE PRODUCTION BY 2025 BASED ON EXISTING PORTFOLIO.TARGETING PRODUCTION COSTS OF USD 7 PER BARREL IN 2023.AKER BP 2019 GUIDANCE: BOARD PROPOSES DIVIDENDS FOR 2019 OF USD 750 MILLION, UP FROM USD 450 MILLION IN 2018, WITH AN AMBITION TO INCREASE DIVIDEND PAYMENTS BY USD 100 MILLION PER YEAR TO 2023.BOARD PROPOSES DIVIDENDS FOR 2019 OF USD 750 MILLION, UP FROM USD 450 MILLION IN 2018, WITH AN AMBITION TO INCREASE DIVIDEND PAYMENTS BY USD 100 MILLION PER YEAR TO 2023.HIGH-POTENTIAL 2019 EXPLORATION PROGRAM WITH 15 PROSPECTS TO BE DRILLED, TARGETING NET UNRISKED PROSPECTIVE RESOURCES OF 500 MILLION BARRELS OF OIL EQUIVALENTS ("MMBOE").INCREASED RESERVES (2P) TO 917 MMBOE, DRIVEN BY CONVERSION OF RESOURCES TO RESERVES.AKER BP 2019 GUIDANCE: SIGNIFICANT RESOURCE ADDITIONS IN ALVHEIM CAN INCREASE PRODUCTION TOWARDS 2023.INCREASED CONTINGENT RESOURCES (2C) TO 946 MMBOE, DRIVEN BY ACQUISITIONS AND DISCOVERIES.AKER BP 2019 GUIDANCE: SANCTIONED AND NON-SANCTIONED PROJECTS WILL CONTRIBUTE TO DOUBLE VALHALL PRODUCTION COMPARED TO 2018.  Full Article

Aker BP completes $250 mln acquisition of oilfield stake from Equinor
Friday, 28 Dec 2018 

Dec 28 (Reuters) - Aker BP ASA ::$250 MLN ACQUISITION OF KING LEAR FROM EQUINOR COMPLETED.ALL CLOSING CONDITIONS HAVE BEEN FULFILLED, AND CLOSING OF TRANSACTION HAS NOW TAKEN PLACE.  Full Article

Pareto Securities cuts Equinor to sell from buy, target to NOK 170 from 300
Thursday, 13 Dec 2018 

Dec 13 (Reuters) - Equinor ASA ::EQUINOR: PARETO SECURITIES CUTS TO SELL FROM BUY, CUTS SHARE PRICE TARGET TO NOK 170 FROM NOK 300.SHOULD BE SEEN IN LIGHT OF DOWNGRADE OF OIL PRICE FORECAST FOR NEXT YEAR; CRUDE IS EXPECTED TO FALL A LITTLE FURTHER FROM CURRENT LEVEL BEFORE IT TURNS IN THE SECOND QUARTER, PARETO ANALYST TOM ERIK KRISTIANSEN SAID.PARETO CUTS 2019 BRENT OIL PRICE FORECAST TO $71/BARREL FROM $80.AKER BP: PARETO SECURITIES CUTS SHARE PRICE TARGET TO NOK 300 FROM NOK 325, MAINTAINS BUY.PARETO EXPECTS AKER BP TO GENERATE STRONG CASH FLOW, INCREASED BY JOHAN SVERDRUP FIELD COMING ON STREAM NEXT YEAR, AND STRONG DIVIDEND YIELD.PARETO IS ALSO EXPECTING GOOD OPERATIONAL PERFORMANCE BY AKER BP, AND IS 6 PCT ABOVE CONSENSUS ON 2019 PRODUCTION, KRISTIANSEN SAID.Further company coverage: EQNR.OLAKERBP.OL.  Full Article

Aker BP's drilling chief bought 7,000 shares
Tuesday, 23 Oct 2018 

Oct 23 (Reuters) - Aker BP ASA ::A COMPANY CONTROLLED BY TOMMY SIGMUNDSTAD (SVP DRILLING AND WELL IN AKER BP), TODAY ACQUIRED 7,000 SHARES IN AKER BP AT A PRICE OF NOK 289.60.  Full Article

Aker BP Q3 operating profit above forecast, keeps 2018 production outlook
Friday, 19 Oct 2018 

Oct 19 (Reuters) - Aker BP ASA ::AKER BP Q3 OPERATING REVENUES $1,000 MILLION (REUTERS POLL $969 MILLION).AKER BP Q3 NET RESULT $125 MILLION (REUTERS POLL $128 MILLION).AKER BP Q3 OPERATING PROFIT $548 MILLION (REUTERS POLL $521 MILLION).COMPANY STILL EXPECTS FULL-YEAR PRODUCTION TO BE WITHIN PREVIOUSLY COMMUNICATED RANGE OF 155-160 MBOEPD.COMPANY'S CAPEX ESTIMATE FOR 2018 HAS BEEN REDUCED FROM AROUND USD 1.3 BILLION TO AROUND USD 1.25 BILLION.AKER BP KEEPS QUARTERLY DIVIDEND AT $0.3124 PER SHARE (REUTERS POLL $0.31).COMPANY'S ESTIMATED EXPLORATION SPEND FOR 2018 HAS BEEN REVISED DOWN TO USD 400 MILLION VERSUS PREVIOUS USD 425 MILLION.AKER BP SEES 2018 ABANDONMENT COSTS AT $250 MILLION PREVIOUS GUIDANCE $250 MILLION.FOR THE FULL YEAR 2018, THE COMPANY MAINTAINS ITS ESTIMATE OF PRODUCTION COSTS OF AROUND 12 USD/BOE.ODA ON TRACK FOR PRODUCTION START IN Q2 2019.AT THE END OF THE THIRD QUARTER, APPROXIMATELY 93 PERCENT OF JOHAN SVERDRUP PHASE 1 FACILITIES WERE COMPLETE.  Full Article

Aker BP's Q3 production drops to 150,600 barrels of oil equivalents per day
Friday, 5 Oct 2018 

Oct 5 (Reuters) - Aker BP ASA ::AKERBP: THIRD QUARTER 2018 PRODUCTION.PRODUCED 150.6 THOUSAND BARRELS OF OIL EQUIVALENTS PER DAY (MBOED) IN Q3 2018 VS 157.8 MBOED IN Q2 2018.SOME OF PRODUCTION GROWTH THAT WAS EXPECTED FROM VALHALL IN Q3 HAS BEEN MOVED TO COMING QUARTERS.  Full Article

Aker BP buys Total E&P Norge's portfolio of 11 licences for $205 mln
Tuesday, 31 Jul 2018 

July 31 (Reuters) - Aker BP Asa ::AKER BP ACQUIRES LICENCE PORTFOLIO FROM TOTAL.AKER BP HAS ENTERED INTO AN AGREEMENT WITH TOTAL E&P NORGE TO ACQUIRE ITS INTERESTS IN A PORTFOLIO OF 11 LICENCES ON NORWEGIAN CONTINENTAL SHELF FOR A CASH CONSIDERATION OF USD 205 MILLION.PORTFOLIO INCLUDES FOUR DISCOVERIES WITH NET RECOVERABLE RESOURCES OF 83 MILLION BARRELS OIL EQUIVALENTS ("MMBOE"), BASED ON ESTIMATES FROM NORWEGIAN PETROLEUM DIRECTORATE.TWO OF DISCOVERIES, TRELL AND TRINE, ARE LOCATED NEAR AKER BP-OPERATED ALVHEIM FIELD AND ARE EXPECTED TO BE PRODUCED THROUGH ALVHEIM FPSO.ALVE NORD DISCOVERY IS LOCATED NORTH OF AKER BP-OPERATED SKARV FIELD, AND CAN BE PRODUCED THROUGH SKARV FPSO.RIND DISCOVERY IS PART OF NOAKA AREA WHERE TOTAL RECOVERABLE RESOURCES ARE ESTIMATED TO MORE THAN 500 MMBOE, AND WHERE AKER BP IS WORKING TOWARDS A NEW AREA DEVELOPMENT.SAYS THESE NEW RESOURCES WILL FURTHER STRENGTHEN AKER BP'S LONG-TERM PRODUCTION PROFILE AND CONTRIBUTE POSITIVELY TO FUTURE EARNINGS.  Full Article

Norway's Aker BP Q2 lags, firm ups exploration spending
Friday, 13 Jul 2018 

July 13 (Reuters) - Aker BP ASA ::AKER BP Q2 OPERATING PROFIT $552 MILLION (REUTERS POLL $573 MILLION).COMPANY'S NET PRODUCTION IN Q2 WAS 157.8 (142.7) THOUSAND BARRELS OF OIL EQUIVALENTS PER DAY.AKER BP Q2 REVENUES $975 MILLION (REUTERS POLL $1,001 MILLION).AKER BP Q2 NET RESULT $136 MILLION (REUTERS POLL $162 MILLION).AKER BP QUARTERLY DIVIDEND $0.3124 PER SHARE (REUTERS POLL $0.31).AKER BP Q2 PRODUCTION AT 157,800 BOEPD (REUTERS POLL 157,800 BOEPD).COMPANY REMAINS ON TRACK TO REACH ITS FULL-YEAR PRODUCTION ESTIMATE OF 155-160 MBOEPD..BOARD OF DIRECTORS HAS RESOLVED TO PAY SAME DIVIDEND IN AUGUST OF USD 0.3124.PLAN IS TO MAINTAIN THIS LEVEL FOR REMAINDER OF 2018, IMPLYING TOTAL ANNUAL DIVIDENDS OF USD 450 MILLION.BOARD'S AMBITION IS TO INCREASE ANNUAL DIVIDENDS BY USD 100 MILLION PER YEAR UNTIL 2021..AKER BP SEES 2018 PRODUCTION AT 155,000-160,000 MBOEPD VERSUS PREVIOUS GUIDANCE OF 155,000-160,000 BOEPD.AKER BP SEES 2018 PRODUCTION COST AT $12 PER BARREL VERSUS PREVIOUS GUIDANCE $12/BARREL.AKER BP SEES 2018 CAPITAL EXPENDITURE AT $1.3 BILLION VERSUS PREVIOUS GUIDANCE $1.3 BILLION.AKER BP SEES 2018 EXPLORATION EXPENSES AT $425 MILLION VERSUS PREVIOUS GUIDANCE $350 MILLION.AKER BP SEES 2018 DECOMMISSIONING COSTS AT $250 MILLION PREVIOUS GUIDANCE $350 MILLION.SAYS THE BOARD’S INTENTION IS TO INCREASE THE DIVIDEND LEVEL BY USD 100 MILLION EACH YEAR UNTIL 2021.SAYS LOWER DECOM ESTIMATES LOWER DUE TO ACCELERATED EXECUTION OF THE CAMPAIGN TO PLUG AND ABANDON OLD WELLS AT VALHALL..  Full Article

Climate crisis could speed demise of Norwegian oil -central bank chief

OSLO, Feb 14 Global efforts to fight a "crisis" of man-made climate change could spell a faster than expected end to Norway's oil and gas industry, the nation's central bank governor said on Thursday.